Black Sea Trade and Development Bank lends EUR 30 million to dairy producer Olympus Romania

Greek dairy producer Olympus Romania contracted EUR 30 million from financial banking association Black Sea Trade and Development Bank (BSTDB) in order to finance the investment in the production facility at Brasov.

March 2012

The producer assigned in November last year an initial amount of EUR 55 million for developing the plant and now, according to its representatives, it needs another financing for increasing the production facility at the location, considering that 80 percent of the plant is reaching international markets. In some countries, Olympus exports 100 percent of their local production, according to Dimitrios Sarantis, chairman of Olympus group of companies. Last year, the Greek company was the second largest investor on the local market, following the value of the investment. Currently, Olympus exports The Romanian raw material-based products in CEE countries but for the future, the company plans to expand and increase the exports, based on the higher production, to Western European countries and USA.  Las year, the company attained EUR 20 million revenues from exports and plans to reach EUR 32 million export-based revenues this year. The local operations brought to Olympus a turnover worth EUR 22.6 million. Present in Romania since 1999, Olympus attained local total investments worth EUR 70 million. The group of companies producing dairy products is based in Greece and operates in 34 countries, including US, Germany and Italy, operating 5 production plants in Greece, Bulgaria and Romania.